WE TRANSFORM BUSINESS NEEDS INTO SOLUTIONS THAT GROW WITH YOUR BUSINESS.
Certainty of Execution
As a financial institution with over 20 years of lending experience, The Bancorp has the balance sheet and internal resources to process loans in-house. We do not utilize third-party funding sources, which ensures a streamlined and transparent origination process with a clear path to funding.
Attractive Leverage
Our bridge loans cover up to 75% of purchase price (80% for multifamily) plus 100% of renovation and/or tenant improvements/leasing costs.
Flexibility to Finance Smaller Loans
Our minimum loan size is $2 million, which provides liquidity to an underserved market.
Nonrecourse Bridge Lending Parameters
|
Loan Amount |
$2,000,000 to $30,000,000+ |
|
Loan Term |
3 years plus extension options, up to 5 years total |
|
Asset Types |
Multifamily (including fractured condos), retail, office, industrial, self-storage, and manufactured/mobile home parks |
|
Security |
First mortgage lien on subject property |
|
Borrowing Entity |
Bankruptcy remote, single-purpose entity |
|
Loan to Cost |
75% of purchase price (80% for multifamily) plus 100% of renovation and/or tenant improvements/leasing costs |
|
Loan to Value |
Up to 75% of stabilized value (80% for multifamily) |
|
DSCR Requirement |
1.00x on NCF; prefunded interest reserves and/or guarantees considered |
|
Amortization |
Interest only during term, 25 to 30 years during extensions |
|
Index |
30-day average SOFR |
|
Origination Fee |
1.00% |
|
Exit Fee |
0.50% – 1.00% |
|
Prepayment |
No lock-out; spread maintenance for 18-24 months |
|
Recourse |
Nonrecourse except for standard "bad boy" carve-outs |
|
Sponsorship |
Established track record with sufficient net worth and liquidity |
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REPRESENTATIVE TRANSACTIONS
Multifamily Property
Greensboro, NC
Multifamily Property
Atlanta, GA
Retail
Fort Lauderdale, FL
Multifamily Property
Fort Worth, TX